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WorksheetsBusiness organisations
Total questions: 12
Worksheet time: 7mins
Sole trader businesses are owned and managed by...
2 to 20 people
1 person
Multiple owners
Partners
Which of the following are of the the 5 main types of businesses in the private sector
Public Limited Company
Partnership
Co-operatives
Private Limited companies
Local councils
• Sole trader business have (a) - if the business cannot pay its debts, the creditors can force the sole trader to sell the private possessions and pay them back.
Which of the following is not in the contents of the partnership agreement
The amount of capital invested in the business by both partner.
The way in which the profits would be shared out
Number of family members and relatives the partners look after
How long the partnership would last
Which of the following are advantages of a Public limited company
There is no restriction on the buying and selling or transfers of shares.
All shareholders have limited liability.
There is large opportunity to raise very large capital sum in the business.
Not a seperate legal entity
Which of the following businesses is likely to have the most amount of capital
Partnership
Public limited Company
Sole trader
Which of the following is not a disadvantage of Private Limited Companies
Unlimited Liability
The company cannot offer shares to the general public
Seperate legal entity
Legal formalities to start up
What are the contents of a memorandum of association
Procedures for appointing directors
Amount of capital to be raised and number of shares issued
Timing and frequency of company meetings
Objectives of company and nature of its activities
Article of association includes
The details of internal running of the business
The detailed personal database of the company's employees
General details of the company and its constitutions
The details of owner's personal assets and belongings
AGM stands for… (a)
Abbreviation for Private Limited Companies is
PLC LTD
PVT LTD
PVT
PLC
Number of partners in a partnership business are.....
Unlimited
200 maximum
2 to infinite
2 to 20 partners
